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Spanaway CDP, WA

ZIP 98387 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 98387

Median Home Value
$424,100
Median Rent
$1,643
Affordability Snapshot
$117,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,724/mo PITI).

19%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.2x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

21.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 98387 in Spanaway CDP, WA, a household would need roughly $117,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,724. That is about 16% above the local median household income ($101,141), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
77.0%+18% vs US avg
x
Vacancy Rate
4.3%-58% vs US avg
x
Broadband Access
93.8%+8% vs US avg
x
4+ Bedrooms
6.4%-57% vs US avg
x
Built Pre-1939
1.0%-92% vs US avg
x
Built Post-2014
0.7%-90% vs US avg
x
Rent Burden >30%
19.7%-60% vs US avg
x
Mortgage-Free
26.9%-30% vs US avg
x
$424,100
Home Value
$1,643
Rent
1995
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached81.7%
  • 1-unit attached5.0%
  • 2-9 units3.1%
  • 10+ units1.9%
  • Mobile home & other8.4%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$424,100
Median rent$1,643
Owner-occupied77.0%
Vacant4.3%
Price-to-income4.2x
Est. income to buy$117,000